New York State Teachers Retirement System increased its stake in KapStone Paper and Packaging Corporation (NYSE:KS) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,551 shares of the basic materials company’s stock after buying an additional 700 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of KapStone Paper and Packaging Corporation worth $1,815,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in KapStone Paper and Packaging Corporation during the fourth quarter valued at about $25,933,000. Great West Life Assurance Co. Can boosted its position in KapStone Paper and Packaging Corporation by 2.1% in the first quarter. Great West Life Assurance Co. Can now owns 210,288 shares of the basic materials company’s stock valued at $4,859,000 after buying an additional 4,289 shares in the last quarter. Motley Fool Wealth Management LLC boosted its position in KapStone Paper and Packaging Corporation by 5.1% in the first quarter. Motley Fool Wealth Management LLC now owns 171,537 shares of the basic materials company’s stock valued at $3,963,000 after buying an additional 8,288 shares in the last quarter. Vivaldi Capital Management LLC purchased a new position in KapStone Paper and Packaging Corporation during the first quarter valued at about $4,191,957,000. Finally, Canada Pension Plan Investment Board raised its position in KapStone Paper and Packaging Corporation by 420.8% in the first quarter. Canada Pension Plan Investment Board now owns 65,100 shares of the basic materials company’s stock valued at $1,504,000 after buying an additional 52,600 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.
Shares of KapStone Paper and Packaging Corporation (NYSE KS) opened at 22.81 on Friday. The company’s 50-day moving average price is $21.67 and its 200-day moving average price is $22.27. KapStone Paper and Packaging Corporation has a 12 month low of $13.97 and a 12 month high of $24.98. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 29.66 and a beta of 2.83.
KapStone Paper and Packaging Corporation (NYSE:KS) last announced its earnings results on Wednesday, July 26th. The basic materials company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. KapStone Paper and Packaging Corporation had a net margin of 2.39% and a return on equity of 11.26%. The firm had revenue of $822.70 million for the quarter, compared to the consensus estimate of $831.52 million. During the same period in the prior year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts anticipate that KapStone Paper and Packaging Corporation will post $1.28 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Thursday, June 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.75%. The ex-dividend date was Tuesday, June 27th. KapStone Paper and Packaging Corporation’s dividend payout ratio (DPR) is presently 51.95%.
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A number of research firms have recently commented on KS. Deutsche Bank AG lifted their target price on KapStone Paper and Packaging Corporation from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Vertical Research downgraded KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. BMO Capital Markets restated a “buy” rating and issued a $28.00 price target on shares of KapStone Paper and Packaging Corporation in a research note on Friday, April 7th. Zacks Investment Research downgraded KapStone Paper and Packaging Corporation from a “strong-buy” rating to a “hold” rating in a research note on Saturday. Finally, ValuEngine downgraded KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.33.
In other news, Director Jonathan R. Furer sold 12,484 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $21.23, for a total value of $265,035.32. Following the completion of the transaction, the director now owns 1,178,915 shares in the company, valued at approximately $25,028,365.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David P. Storch purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average price of $20.00 per share, with a total value of $100,000.00. Following the purchase, the director now owns 45,127 shares in the company, valued at $902,540. The disclosure for this purchase can be found here. Corporate insiders own 13.30% of the company’s stock.
KapStone Paper and Packaging Corporation Company Profile
KapStone Paper and Packaging Corporation is a producer of containerboard and the kraft paper in North America. The Company operates through two segments: Paper and Packaging, and Distribution. The Paper and Packaging segment manufactures and sells a range of containerboard, corrugated products and specialty paper for industrial and consumer markets.
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